personalized gifts market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of personalized gifts in APAC, Europe, North America, South America, and MEA. In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the vast collection of various brands of personalized gifts where customers can select a variety of products will play a significant role in the offline segment to maintain its market position. Also, our global personalized gifts market report looks at factors such as continuous development of new products, rising demand for 3D printed personalized gifts, and growing customer inclination for gift personalization. However, the seasonal nature of the market, growing competition from home-made and DIY gifts, and increasing number of product recalls may hamper the growth of the personalized gifts industry over the forecast period.
Global Personalized Gifts Market: Overview
New product launch
Vendors are focusing on catering to the unique needs of their customers by offering them new products with innovative personalization options. This helps them to expand their product lines by launching new products that can be gifted during various festivals. For instance, Notonthehighstreet Enterprises launched its limited edition of personalized gifts that can be gifted during Mother’s Day. Such variants of personalized gifts are helping to drive sales. Thus, the launch of new products will lead to the expansion of the global personalized gifts market at a CAGR of over 9% during the forecast period.
Rising popularity of eco-friendly personalized gift
Vendors operating in the global personalized gifts market are increasingly focusing on providing products made of organic and natural materials. One of the advantages of delivering and using eco-friendly gifts is they are biodegradable. As eco-friendly personalized gifts are made of non-toxic raw materials, they will not cause any side effects or allergies to receivers. Vendors are focusing on providing eco-friendly personalized gifts to reduce the environmental impact associated with their production. Similarly, gifts made of non-toxic materials are preferred for babies to prevent allergies and other adverse health effects. These benefits offered by eco-friendly products will encourage more customers to gift such products and thereby drive the global personalized gifts market.
For the detailed list of factors that will drive the global personalized gifts market during the forecast period 2019-2023, click here.
With the presence of several major players, the global personalized gifts market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading personalized gifts manufacturers, that include American Greetings Corp., Bed Bath & Beyond Inc., Card Factory Plc., Cimpress NV, Enesco LLC, Hallmark Licensing LLC, Personal Creations, Shutterfly Inc., Snapfish LLC, and UncommonGoods LLC.
Also, the personalized gifts market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.